The loss of soybean sales to China have created a lot of stress, says farmer Blake Hurst.
Since Canada detained Huawei executive Meng Wanzhou late last year, Chinese imports of several agricultural crops have slowed or stopped altogether.
Following severe flodding in the Midwest, a pile of 650,000 bushels of soybeans in rural Missouri spontaneously combusted and have been burning for a month.
Al Kluis, managing director of Kluis Commodity Advisors, thinks traders won't see the soybean market turn until there are real orders and action taken.
The overall deficit getting bigger isn't necessarily a bad thing, said Dan Ikenson, director of the Herbert A. Stiefel Center for Trade Policy Studies at the Cato Institute.
Flood damage has made things extremely difficult.
A Chinese tariff on the U.S. crop has shut down a critical market.
The U.S. trade deficit in July surged to a five-month high, $50.1 billion, as exports of products like soybeans and civilian aircraft fell, while imports reached record levels. President Donald Trump regularly complains about trade deficits, but his own spending…
U.S. farmers who are caught up in the wider U.S., China and Mexico trade disputes are expected to get details today on a $12 billion aid package to help offset the effects of retaliatory tariffs. Farmers have been watching prices…
The Department of Agriculture announced a $12 billion aid package on Tuesday for farmers impacted by U.S. trade disputes. The money would go to pork, soybean and dairy farmers among others who have been slapped with retaliatory tariffs in response…